At the beginning of autumn this year, the ruble became the most undervalued currency among the G20 countries
At the beginning of autumn, the ruble became the most undervalued currency among the G20 countries. Its exchange rate should be about 33 rubles per dollar, as follows from calculations RIA News.
Previously, a ranking of G20 countries was published based on the cost of a combo meal of a burger, fries and a glass of cola. According to the data, the cheapest lunch is in Russia, and the most expensive is in Germany. Based on the data, the agency calculated the exchange rate of national currencies, focusing on purchasing power in relation to the US dollar.
The ruble exchange rate at purchasing power parity (PPP) is three times lower than the current rate and amounts to 32.07 per dollar. As experts explained, Russia has the highest purchasing power parity.
The Indonesian rupiah is in second place in the ranking. Its rate is 2.2 times better than the official one – 6.9 thousand rupees per dollar instead of 15.4 thousand. The top 3 is completed by South Africa. The value of the national currency, taking into account purchasing power, is 1.8 times stronger than “on the scoreboard” – 10.4 rand per dollar.
In addition, the Indian rupee and Chinese yuan, the Turkish lira, the Korean won and the Japanese yen are seriously undervalued, experts noted.
Earlier, financial analyst Mikhail Belyaev said that the most reliable currency in the world today is the yuan. The economist explained that the reliability of any currency depends on the overall health of the economy it represents.
In September, Venezuelan Foreign Minister Ivan Gil Pinto said that the US dollar serves as a tool of coercion against other countries. He predicted the collapse of the dollar’s hegemony and allowed for the imminent emergence of an alternative in world trade. In his opinion, after this the basket of currencies will become more positive and provide stability to all countries.
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